Additional Holes Completed From Delineation Drilling At La Infanta Deposit

TORONTO - Emerita Resources Corp. reported on 21 additional holes from the 2023 delineation drilling at La Infanta deposit, part of Emerita’s Iberian Belt West project (IBW”). These results will be included in the upcoming NI 43-101 compliant mineral resource estimate (MRE) which is presently being finalized. IBW hosts three previously identified massive sulphide deposits: La Infanta, La Romanera and El Cura. All deposits are open for expansion along strike and at depth.

The Company is also pleased to announce that the Ministry of Industrial Policy and Energy of Huelva, Andalusia has granted the exploration permit for the Infanta Sur Property. This permit adds an additional 848.5 hectares to IBW, which has now increased from 1,545.6 hectares to a total of 2,394.1 hectares. Infanta Sur is located south of the current La Infanta area in IBW. The new exploration permit allows Emerita to begin exploration immediately in the newly permitted area. The area granted is permitted for exploration activity and does not require further environmental department or municipal approvals for work to proceed. The Company is currently planning geophysical and geological work to be done in the area. The Infanta Sur exploration permit is granted for an initial period of three years and can be renewed for subsequent additional periods.

Joaquin Merino, P.Geo., President, said, “The continued high-grade results at La Infanta are very encouraging and support our decision to expand our exploration footprint at the IBW project. The Emerita team is planning additional drilling to continue exploration beyond the upcoming MRE. The holes in this release are being incorporated into the block model for the forthcoming MRE. The Independent Qualified Person is in the final stages completing the independent mineral resource estimate.”

La Infanta deposit comprises 2 mineralized blocks (north and south) which are separated by a reverse fault. The deposit is locally characterized by the development of high-grade polymetallic massive sulphide mineralization. The known mineralization occurs from surface to 350 m depth and extends 1,400 m along strike and remains open both to the east and west. The highest grades were found on the central portion which extends approximately 700 m along strike. Thicknesses in the central area of the deposit range from 3 to 10 m in both blocks. Outside of the central area the deposit tends to be thinner and lower grade, however it merits further exploration as massive sulphide mineralization continues.